From 1st June 2019 tenants will be required to make permitted payments as defined under the legislation and only include the following:
1. Rent As negotiated with landlord and stated within tenancy agreement.
2. Holding Deposit Bond Residential do not request a holding deposit.
3. Refundable tenancy deposit Tenancy deposits are capped at no more than five week’s rent where the annual rent is less than £50,000 or 6 weeks’ where the total rent is £50,000 or above.
4. Payments to change the tenancy agreement during the tenancy. Amendments to tenancy agreements where requested by the tenant will incur a fee of £50 inclusive of VAT.
5. Payments associated with tenant requesting early termination of the tenancy. Tenants will be provided with written confirmation of all costs that will be incurred at the time of requesting early termination and such costs will be in accordance with The Tenant Fee Act 2019.
6. Payments for utilities, communication services, TV licence and Council Tax.
7. Default fee for late payment of rent, where required, under a tenancy agreement. The amount of default fee is limited to 3% over the Bank of England base rate for each date that the payment is outstanding and applies to rent which is more than 14 days overdue.
• Client money protection (CMP)- Client Money Protection is provided by Money Shield. • Independent redress provided by: The Property Ombudsman Scheme - www.tpos.co.uk • Tenancy Deposit Scheme – Tenant/s Deposits held in Deposit Protection Scheme